
On January 17, 2025, the Government of Mongolia and Orano Mining, a company based in France, signed an Investment Agreement to collaborate on a uranium mining project.
The Mongolian delegation included Uchral Nyam-Osor, Chief of the Cabinet Secretariat; Javkhlan Bold, Minister of Finance; Tuvaan Tsevegdorj, Minister of Industry and Mineral Resources; and Narantsogt Sanjaa, CEO of Erdenes Mongol LLC. The French side was represented by Laurent Saint-Martin, Minister Delegate for Foreign Trade and French Nationals Abroad; Nicolas Maes, CEO of Orano Group; Xavier Saint-Martin-Tillet, CEO of Orano Mining; and Marc Meleard, CEO of Badrakh Energy.
Prime Minister Oyun-Erdene Luvsannamsrai of Mongolia and Laurent Saint-Martin delivered remarks following the signing ceremony.
Prime Minister Oyun-Erdene emphasized, “This Agreement marks the second major investment partnership signed by the Government of Mongolia with a third neighbor. The collaboration with Orano Mining will increase foreign investment, boost state and local budgets, create numerous jobs, introduce advanced technology, and strengthen Mongolia’s ties with the international community. Beyond its direct economic and social benefits, this Agreement will also serve as a model for future investment ventures in the mining and minerals sector.”
Minister Delegate Laurent Saint-Martin remarked, “Today, we are signing a historic agreement, enriched with new opportunities and momentum. The Zuuvch-Ovoo deposit, one of the ten largest uranium deposits in the world, will position Mongolia as a significant player in the global uranium market. This project will also drive the economic and social development of Dornogobi aimag and contribute to Mongolia’s overall progress.”
Deputy Prime Ministers Dorjkhand Togmid and Amarsaikhan Sainbuyan, along with other officials, attended the signing ceremony for the Investment Agreementbetween the Government of Mongolia and Orano Mining.
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